Statute · California Public Resources Code
Cal. Pub. Res. Code § 71562 — Financial Transactions and Audits
Cal. Pub. Res. Code § 71562
- Type
- Statute
- Source
- California Public Resources Code
- Jurisdiction
- California
- Date
- 2011-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Funds held by the endowment shall revert to the state or to another public agency or nonprofit organization approved by the state if the endowment does any of the following:
Citator
Cal. Pub. Res. Code § 71562 — Financial Transactions and Audits is in force in the current edition of the Code, and nothing recorded condemns it.
Funds held by the endowment shall revert to the state or to another public agency or nonprofit organization approved by the state if the endowment does any of the following:
(a) Ceases operations.
(b) Is dissolved.
(c) Becomes bankrupt or insolvent.
(d) Fails to perform its fiduciary duties.